Algonquin Power & Utilities (NYSE:AQN) Releases Quarterly Earnings Results

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) issued its quarterly earnings results on Friday. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.05, Zacks reports. The firm had revenue of $692.40 million during the quarter, compared to the consensus estimate of $699.08 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. During the same quarter last year, the company posted $0.14 EPS.

Algonquin Power & Utilities Trading Up 9.7 %

Shares of NYSE:AQN traded up $0.53 during trading on Friday, reaching $5.99. 27,246,768 shares of the company traded hands, compared to its average volume of 7,748,749. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. Algonquin Power & Utilities has a 52-week low of $4.19 and a 52-week high of $6.75. The business's fifty day moving average is $5.14 and its 200-day moving average is $4.82. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of -4.64 and a beta of 0.67.

Algonquin Power & Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 4.34%. Algonquin Power & Utilities's payout ratio is currently -14.44%.

Wall Street Analysts Forecast Growth

AQN has been the subject of several research analyst reports. CIBC dropped their target price on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Royal Bank of Canada dropped their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating for the company in a report on Tuesday, February 18th. National Bankshares reduced their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. Finally, Scotiabank raised their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a "sector perform" rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $5.92.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.

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